tag:blogger.com,1999:blog-60832062010021542992018-03-05T11:55:38.922-08:00Unsecured Loansadminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.comBlogger704125tag:blogger.com,1999:blog-6083206201002154299.post-73899709425911323642013-11-29T22:33:00.001-08:002013-11-29T22:33:40.912-08:00How can a loan or an unsecured loanHow can a loan or unsecured loan . How can I do for loans without collateral or a guarantee ? Here are some tips for you to bank approval .1 . Determine First Bank , of course .You have to decide which banks will be presented offering unsecured loans . Each bank may differ depending on the demand for credit and the credit limit granted . It is therefore essential that banking requirements . In adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com5tag:blogger.com,1999:blog-6083206201002154299.post-23927354703177021872013-11-29T22:28:00.001-08:002013-11-29T22:28:07.104-08:00Advantages and Disadvantages of Unsecured LoansThese loans do not require collateral assets to be used when we want to apply for these loans at financial institutions . Then how financial institutions decide whether we deserve this loan or not ? Of course financial institutions not directly give us a loan when we came . They will ask for various documents so that they could learn whether indeed we are eligible to receive the loan or not .Whatadminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com1tag:blogger.com,1999:blog-6083206201002154299.post-87087283577130784352013-11-05T07:19:00.000-08:002013-12-02T07:33:54.098-08:00European Growth Map 2014Here is a slide from a presentation used this morning by Olli Rehn when introducing the Commission’s Autumn 2013 Economic Forecast. The north/south divide is strong with this one. adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-60916612105547917112013-11-01T09:55:00.000-07:002013-12-02T07:33:54.104-08:00DoF Mortgage Arrears ReleaseYesterday, the Department of Finance published the first in a new set of monthly mortgage arrears and restructures figures. Hopefully, the series will be expanded because the first issue contains almost nothing that is new and also has some errors. The errors don’t relate to the arrears figure but to the comparison between the number of houses in the country and the number of mortgage accounts.adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-24083229197389915272013-10-29T05:14:00.000-07:002013-12-02T07:33:54.176-08:00Retail sales get stuckThe CSO have published the September update of the Retail Sales Index. Excluding the motor trades, the volume index was unchanged in the month with the value index showing a slight decline. The increases seen during the sunny summer have not been sustained into the autumn. In annual terms, the 2013 figures are now coming up against the short-lived increase that occurred from June to October adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-77655242548959467292013-10-28T10:26:00.000-07:002013-12-02T07:33:54.182-08:00Loans to Customers in the Covered BanksA recent post looked at the state of the banks and in aggregate showed that the “Irish-headquartered banks” (AIB, BOI and PTSB) had €214 billion of loans to customers against which they had made €28 billion of provisions giving the €186 billion balance-sheet value for their loan books. The following table provides some insight by bank, sector and country on the aggregate figures looked at adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com2tag:blogger.com,1999:blog-6083206201002154299.post-43399082587665035082013-10-23T05:14:00.000-07:002013-12-02T07:33:54.188-08:00Alcohol Prices – Ireland is 2nd highest in EUA minimum price for alcohol in Ireland remains on the agenda (though it’s legality is still uncertain). Data from Eurostat show that Ireland already has the second highest price for alcohol in the EU – at more the 60% higher than the EU average. The latest data from Eurostat is for 2012 and is available here. adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com3tag:blogger.com,1999:blog-6083206201002154299.post-61990523845222990672013-10-22T09:47:00.000-07:002013-12-02T07:33:54.194-08:00The State of the BanksThe quarterly IMF Reports generated as part of the EU/IMF programme now include an useful table that summarises the state of the “Irish-headquartered banks” (known as “covered” before the withdrawal of the ELG). The banks included, and their level of state ownership, are: Allied Irish Banks (as merged with EBS) – 99.8% Bank of Ireland – 15.1% Permanent TSB – 99.2% The most recent adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-27294701280527056802013-10-22T03:27:00.000-07:002013-12-02T07:33:54.202-08:00Getting to Three Point OneThe level of the ‘adjustment package’ in last week’s budget has created some confusion. The basic sum involves the €1.85 billion of new measures for 2014 announced last week, €0.65 billion of carryover effects (measures which were announced last year but kick-in this year) and €0.6 billion of “additional resources and savings”. So we have €1.85bn + €0.65bn + €0.6bn = €3.1bn The €0.6 adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-74848417921925766382013-10-21T05:23:00.000-07:002013-12-02T07:33:54.210-08:00Income and Repayment Stress for Mortgagors and TenantsThe understanding we have of Ireland’s massive mortgage arrears problem remains scant. Many reasons have been put forward for the continued growth in arrears: unemployment, income decreases, negative equity, regulatory response, lack of repossessions and something called “strategic default”. Up to recently actual evidence on any of these was absent but this is slowly improving. In some recent adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-19551521364498225112013-10-16T04:25:00.000-07:002013-12-02T07:33:54.283-08:00Why is the projected budget deficit higher?Back in April the Department of Finance published the 2013 Stability Programme Update. In it the projected general government deficit for 2014 was 4.4% of GDP. This assumed a package of adjustments of €3.1 billion in the Budget. Yesterday a package of €2.5 billion of expenditure cuts and tax increases was announced but because of measures put in place earlier in the year (mainly the adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-25323744768685725442013-10-15T07:40:00.000-07:002013-12-02T07:33:54.355-08:00Moving to stop “stateless” profitsIncluded among the budget documents is a short release on Ireland’s International Tax Strategy. There is not a lot new in it but it does signal that the ability of companies such as Apple to create “stateless” profits or “ocean money” will be curtailed. The second measure to be included in the Finance Bill is a change to our company residence rules aimed at eliminating mismatches - that can adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-87586080893292985472013-10-15T03:23:00.000-07:002013-12-02T07:33:54.426-08:00No improvement for the household sectorYesterday the CSO published the Q2 2013 Non-Financial Institutional Sector Accounts. Here we will focus on the household sector and the main aggregates in H1 2012 and H1 2013. A year-on-year comparison does not show any improvement. Earnings and social benefits received are down while taxes and social contributions paid are up. All told, gross disposable income in the first half of 2013 wasadminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-2115584471808260112013-10-14T09:03:00.000-07:002013-12-02T07:33:54.498-08:00€12 billion in CT revenue?The issue of Ireland’s corporation tax continues to generate lots of debate. Whether this is a good thing or a bad thing is also open to debate. At a recent Oireachtas Committee hearing a question on Ireland’s reputation was put to Prof. Frank Barry of Trinity: Prof Frank Barry: That is a very interesting question. We speculated for some time about whether the US Senate hearings and reportsadminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-70452327474126891102013-10-12T09:02:00.000-07:002013-12-02T07:33:54.570-08:00Deficit Effect of Recent BudgetsThe White Paper with the Estimates of Receipts and Expenditure released at midnight last night shows that in a “do nothing” scenario the Department of Finance estimate that the 2014 general government deficit would be 5.8% of GDP (with the 2013 deficit now projected to be 7.3% of GDP) In advance of Tuesday’s budget Minister for Finance, Michael Noonan has said that the projected deficit for 2014adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-33977838364214319572013-10-09T05:17:00.000-07:002013-12-02T07:33:54.644-08:00AROP and VLWIA quick follow-up chart using Eurostat data on at-risk-of-poverty rates and very-low work intensity and again highlights Ireland as an outlier. The data are from here. The vertical axis gives the percentage point impact that social transfers have on the at-risk-of-poverty rate (equivalised income less than 60% of the median). In 2011, the pre-transfer AROP rate in Ireland was 39.6%, by faradminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-10150129096537510462013-10-08T03:59:00.000-07:002013-12-02T07:33:54.716-08:00At-risk-of-poverty or social exclusionEurostat has a release out today with some regional indicators of employment, population and social exclusion. The indicator of social exclusion is drawn from three measures: The at-risk-of-poverty rate Proportion of people who are severely materially deprived Proportion of people under 60 who live in households with very-low work intensity The figure published by Eurostat give adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-69565848220188540902013-10-07T09:00:00.000-07:002013-12-02T07:33:54.788-08:00Alternatives to the Guarantee – again!An article by Donal Donovan in last Saturday’s Irish Times reiterates a point made previously that the almost-blanket two-year guarantee introduced for the six Irish banks in September 2008 was the “least-worst option”. Careful examination of all the possibilities available at the time leads one to conclude, as did the Honohan and Nyberg reports (and my recent book jointly authored with adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-90825335873708764642013-09-27T10:41:00.000-07:002013-12-02T07:33:54.861-08:00Anatomy of a Repossession CaseFor the past few years the escalating mortgage crisis has been analysed using aggregate figures for mortgage arrears published by the Financial Regulator’s Office in the Central Bank. The latest figures show that there are around 80,000 households in mortgage arrears of 90 days or more. In virtually all cases we have no insight into the individual circumstances behind these figures but adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-46004183925724032082013-09-27T04:50:00.000-07:002013-12-02T07:33:54.933-08:00Retail sales slip backAfter heating up in July, retail sales slipped back slightly in August. Here is the retail sales index excluding the Motor Trades since January 2010. One feature in the August figures is the difference in the performance of the value and volume series. The volume series is down about 0.2% on the month but the value series is down 1.4%. The CPI was flat in August with monthly prices adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-19574255481738039052013-09-26T06:40:00.000-07:002013-12-02T07:33:55.004-08:00Employment patterns – numbers employed and new FTE dataThere has been some talk recently of an improvement in labour market conditions. This narrative has support from patterns such as this from the Quarterly National Household Survey. In the year to Q2 2013 employment is up around 33,000 and speculation of a turn in the labour market is not outlandish. There have, however, been concerns raised about this improvement because of a caveat the CSO adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-18529698764191750972013-09-23T10:29:00.000-07:002013-12-02T07:33:55.077-08:00New emphasis on the primary balance The repeated calls of what should be done with the Promissory Note “savings” is likely why we have seem the Minister for Finance try to put some emphasis on the primary budget balance in recent weeks. The primary balance excludes interest costs so is the difference between government revenue and government expenditure on goods and services. The primary balance was unaffected by the Promissory adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-80879661452562339612013-09-23T10:14:00.000-07:002013-12-02T07:33:55.149-08:00The Promissory Note “savings” revisitedAs outlined in the previous post it was projected in the Budget last December that the 2014 deficit would be €8.9 billion. Just four months later the forecast of the 2014 deficit in April’s Stability Programme Update was €7.7 billion, a decrease of €1.2 billion. The improvement was due to two things. The first was around €200 million of revenue buoyancy from taxes that performed better than adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-89689912722805722312013-09-23T09:50:00.000-07:002013-12-02T07:33:55.220-08:00Deficit targets and nominal GDPThe upcoming budget is set to be framed around a general government deficit limit of 5.1% of GDP for 2014. This was set as part of the EU’s Excessive Deficit Procedure (EDP) in an Council Recommendation to Ireland from December 2010. There was much comment last week on the performance of real GDP in Ireland (up 0.4% in the quarter apparently) but debt contracts are written in nominal terms. adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0tag:blogger.com,1999:blog-6083206201002154299.post-50446330683062850892013-09-16T14:38:00.000-07:002013-12-02T07:33:55.293-08:00Mortgages in the Covered BanksThe level of arrears in the quarterly statistics produced by the Financial Regulator continues to climb. The latest figures are for Q2 2013 (30 June) and this is the bleak picture they paint for the €140 billion Irish residential mortgage market. Only two-thirds of mortgages are being repaid under the terms of the original mortgage contract. Immediate concern can be directed at the €27.3 adminhttp://www.blogger.com/profile/12178771246594780675noreply@blogger.com0